Barclays Has Lowered Expectations for Allegiant Travel (NASDAQ:ALGT) Stock Price

Allegiant Travel (NASDAQ:ALGT) had its target price dropped by equities research analysts at Barclays from $100.00 to $60.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the transportation company’s stock. Barclays‘s target price would indicate a potential upside of 19.19% from the company’s previous close.

ALGT has been the topic of a number of other reports. Raymond James upgraded shares of Allegiant Travel from an “outperform” rating to a “strong-buy” rating and reduced their target price for the stock from $125.00 to $90.00 in a research report on Wednesday, April 2nd. TD Cowen boosted their price objective on shares of Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, December 17th. Morgan Stanley increased their price objective on Allegiant Travel from $90.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Susquehanna dropped their target price on Allegiant Travel from $95.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday. Finally, The Goldman Sachs Group upped their price target on Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $67.00.

Allegiant Travel Trading Up 18.9 %

Shares of ALGT opened at $50.34 on Tuesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The company has a market cap of $923.13 million, a price-to-earnings ratio of -3.77 and a beta of 1.57. The stock has a fifty day moving average price of $66.33 and a two-hundred day moving average price of $74.47. Allegiant Travel has a 52-week low of $36.09 and a 52-week high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $1.62. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. Analysts predict that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Allegiant Travel

Several large investors have recently made changes to their positions in ALGT. Stifel Financial Corp bought a new stake in Allegiant Travel during the third quarter worth $210,000. State Street Corp increased its stake in shares of Allegiant Travel by 1.7% during the 3rd quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock worth $33,530,000 after purchasing an additional 10,050 shares during the last quarter. XTX Topco Ltd lifted its stake in Allegiant Travel by 15.0% in the 3rd quarter. XTX Topco Ltd now owns 17,491 shares of the transportation company’s stock valued at $963,000 after purchasing an additional 2,279 shares during the last quarter. Barclays PLC lifted its stake in Allegiant Travel by 136.9% in the 3rd quarter. Barclays PLC now owns 31,876 shares of the transportation company’s stock valued at $1,755,000 after purchasing an additional 18,421 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Allegiant Travel by 1.5% during the third quarter. Geode Capital Management LLC now owns 364,755 shares of the transportation company’s stock worth $20,089,000 after buying an additional 5,424 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Company Profile

Allegiant Travel Company, a leisure travel company, provides travel services and products to residents of under-served cities in the United States. The company offers scheduled air transportation on limited-frequency, nonstop flights between under-served cities and leisure destinations. As of February 1, 2024, it operated a fleet of 126 Airbus A320 series aircraft.